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In this Glick Watch video, Fred Glick discusses real estate management and the importance of having the necessary documents and procedures in place. The rental cycle is broken down into three main parts - showing the property, renting it out, and turning it over after a tenant moves. During the showing phase, it is essential to have a rental application, lease agreement, move in/move out form, and ensure that all adults over 18 apply for the property. Running credit and background checks on applicants is crucial to comply with federal, state, and local laws.